Harvard Case - Alexandre Mars and Epic
"Alexandre Mars and Epic" Harvard business case study is written by Laura Winig, Julie Battilana, Christopher Marquis. It deals with the challenges in the field of Social Enterprise. The case study is 30 page(s) long and it was first published on : Jun 4, 2019
At Fern Fort University, we recommend Alexandre Mars adopt a hybrid organizational structure for Epic, combining the strengths of both for-profit and non-profit models. This will allow Epic to effectively scale its social impact while maintaining financial sustainability. We propose a two-pronged approach:
- Epic Impact: A non-profit organization dedicated to driving social impact through initiatives like the 'One Million' campaign and supporting existing social enterprises. This will enable Epic to focus on social innovation and sustainable development goals (SDGs), attracting impact investors and venture philanthropy.
- Epic Ventures: A for-profit entity focused on developing and scaling innovative, inclusive business models that generate revenue while addressing social and environmental challenges. This will allow Epic to attract traditional investors, generate profits, and create a circular economy model.
This hybrid structure will enable Epic to leverage the strengths of both models, ensuring long-term sustainability and maximizing social impact.
2. Background
Alexandre Mars, a serial entrepreneur, founded Epic, a company with a mission to 'make the world a better place.' Epic's approach involves investing in and supporting social enterprises tackling various global challenges like poverty, hunger, and environmental degradation. The case study highlights Mars's entrepreneurial spirit and his commitment to social entrepreneurship, exemplified by his 'One Million' campaign, aiming to empower one million entrepreneurs in developing countries.
3. Analysis of the Case Study
Epic faces several challenges, including:
- Scaling Social Impact: While Epic has successfully launched several initiatives, scaling them to achieve a significant global impact remains a challenge.
- Financial Sustainability: Balancing social impact with financial sustainability is crucial for Epic's long-term success.
- Organizational Structure: Epic's current structure, primarily focused on philanthropy, limits its ability to attract diverse investors and scale its ventures.
Framework: We utilize the Stakeholder Theory to analyze Epic's situation, considering the interests of various stakeholders:
- Internal Stakeholders: Employees, founders, and management.
- External Stakeholders: Social enterprises, beneficiaries, investors, and the broader community.
Key Considerations:
- Mission Alignment: Epic's mission is to create positive social impact. Any organizational structure must align with this mission.
- Financial Viability: Epic needs to generate revenue to sustain its operations and expand its reach.
- Impact Measurement: Epic needs to develop robust metrics to measure and demonstrate its social impact effectively.
4. Recommendations
Establish Epic Impact: A non-profit organization dedicated to driving social impact through grants, partnerships, and advocacy.
- Focus: Supporting existing social enterprises, funding social innovation, and promoting sustainable development goals (SDGs).
- Funding: Attracting impact investors, venture philanthropy, and government grants.
- Measurement: Employing social impact measurement tools to track and report on the impact of initiatives.
Establish Epic Ventures: A for-profit entity focused on developing and scaling innovative, inclusive business models that generate revenue while addressing social and environmental challenges.
- Focus: Developing products and services that benefit both the company and the community.
- Funding: Attracting traditional investors, venture capitalists, and angel investors.
- Measurement: Utilizing triple bottom line reporting to track financial, social, and environmental performance.
Hybrid Organizational Structure: Combine the strengths of both models through a hybrid organization structure.
- Benefits: Maximizes social impact, ensures financial sustainability, and attracts a wider range of investors.
- Challenges: Requires careful governance and communication to ensure both entities operate effectively.
Strong Leadership: Appoint a CEO with experience in both social entrepreneurship and business management to oversee both Epic Impact and Epic Ventures.
5. Basis of Recommendations
- Core Competencies and Consistency with Mission: The hybrid structure aligns with Epic's mission to create positive social impact while ensuring financial sustainability.
- External Customers and Internal Clients: The structure caters to the needs of both social enterprises and investors, attracting a wider range of stakeholders.
- Competitors: The hybrid structure positions Epic as a leader in social entrepreneurship, differentiating it from traditional non-profits and for-profit companies.
- Attractiveness: The dual-pronged approach will attract a diverse range of investors, including impact investors, venture capitalists, and traditional investors.
6. Conclusion
Adopting a hybrid organizational structure will enable Epic to effectively scale its social impact while ensuring financial sustainability. This approach allows Epic to leverage the strengths of both non-profit and for-profit models, attracting a wider range of investors and maximizing its impact on the world.
7. Discussion
Alternatives:
- Remaining solely a non-profit: This would limit Epic's ability to attract diverse investors and scale its ventures.
- Becoming solely a for-profit company: This would compromise Epic's social mission and potentially alienate impact investors.
Risks:
- Governance Challenges: Maintaining a cohesive vision and effective communication between the two entities is crucial.
- Financial Performance: Epic Ventures needs to generate sufficient revenue to support both entities.
- Impact Measurement: Developing robust metrics to measure and demonstrate the social impact of both entities is essential.
Assumptions:
- Strong Leadership: A skilled CEO with experience in both social entrepreneurship and business management is essential.
- Investor Interest: There is sufficient interest from both impact investors and traditional investors.
- Effective Communication: Clear communication between the two entities is maintained to ensure alignment and collaboration.
8. Next Steps
- Develop a detailed business plan: Outline the strategic direction, financial projections, and impact measurement framework for both Epic Impact and Epic Ventures.
- Secure funding: Seek funding from impact investors, venture philanthropists, and traditional investors.
- Establish a strong governance structure: Develop a clear organizational structure and governance framework for both entities.
- Hire key personnel: Recruit a team with expertise in social entrepreneurship, business management, and impact measurement.
- Launch pilot projects: Test and refine the business models for both Epic Impact and Epic Ventures.
By following these steps, Epic can successfully implement the hybrid organizational structure and achieve its ambitious goals of creating a more just and sustainable world.
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Case Description
The case examines the strategy, impact, and sustainability of a boutique philanthropy with a big goal: change the way people donate to charities. Epic Foundation was founded to support a portfolio of children's charities. Now, its leadership was considering taking on a broader role: to reshape the very nature of charitable giving-in the U.S., France, the United Kingdom and globally. Its wealthy, charismatic leader, Alexandre Mars, thought that Epic could be at the forefront of a movement to transform the global culture of giving. But there was an open question among the fundraising, communications and marketing teams at Epic about how to jockey between the management and growth of its portfolio and this new advocacy orientation. It was unclear whether Epic could simultaneously pursue both. Should Epic continue to grow and possibly diversify its portfolio of charities, or should it focus more on an advocacy model? Mars wanted to advocate for "making giving the norm"-a call for citizens to make frequent charitable donations through work, point-of-purchase and online channels. But were Epic's ideas truly innovative when it came to fostering this giving norm and was it positioned to advocate for it?
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